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Article: United States: Loews Swings to $468 Million Profit on Insurance, Oil-Drilling.(Financial report)
- Article from:
- TendersInfo
- Article date:
- November 3, 2009
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Byline: deepak03
Loews Corp., the holding company run by New York s Tisch family, swung to a third-quarter profit on improved results from its insurance and oil-drilling units.
Loews s net income of $468 million, or $1.08 a share, compares with a loss of $137 million, or 31 cents, in the same period a year earlier, the New York-based company said today in a statement. Investment income was $41 million, compared with a loss of $57 million a year earlier.
Loews owns about 90 percent of business insurer CNA Financial Corp. and a majority of Diamond Offshore Drilling Inc., the largest deepwater oil driller based in the U.S. CNA today reported net ...